Welcome to SETTLE LENDING SOLUTIONS

Credit Guide

This is the Credit Guide of SETTLE PTY LTD T/AS SETTLE LENDING SOLUTIONS ABN 44671743963, Australian Credit Representative Number 554981.

Credit Guide

This is the Credit Guide of SETTLE PTY LTD T/AS SETTLE LENDING SOLUTIONS ABN 44671743963, Australian Credit Representative Number 554981.
About this Credit Guide
This Credit Guide is designed to assist you in deciding whether to use the services we offer.
Services we provide
We will provide you with information on a range of lenders and products. Once you have chosen a loan or lease that is suitable for you, we will help you to obtain an approval.
Our Associations and Relationships
SETTLE PTY LTD is accredited with Finsure Finance & Insurance Pty Ltd. We source finance from a panel of lenders.
Our Responsible Lending Obligations
We are obliged to ensure that any loan, or principal increase to a loan, we help you to obtain, or any lease we help you enter, is not unsuitable for you. To decide this, we may need to ask you some questions in order to assess whether the loan or lease is not unsuitable. The law requires to:
  • make reasonable enquiries about your requirements and objectives;
  • make reasonable enquiries about your financial situation; and
  • take reasonable steps to verify that financial situation.
Credit will be unsuitable for you if at the time of the assessment, it is likely that at the time the credit is to be provided:
  • you could not pay or could only pay with substantial hardship; or
  • the credit will not meet your requirements or objectives.
For example, if you can only repay by selling your principal place of residence, it is presumed that the loan will cause substantial hardship unless the contrary is proved. For this reason, we must ask you to provide a significant amount of information. It is important that the information you provide is accurate, complete and up-to-date. If we proceed on incomplete or incorrect information, you may be in breach of your legal obligations to the lender.
We will provide you with a copy of our preliminary assessment (SOCA) of your application if you ask for it within seven years. This requirement is only triggered if we give you credit assistance.
Our Fees and Charges
Generally, no fees or charges are payable by you to us for our credit assistance. In some instances, a fee for service may be required. Details of these fees will be set out in a Credit Quote & Proposal.
However, you may be charged a lender’s application fee, valuation fees and other fees associated with the loan.
These fees are not charged by us and will be disclosed to you prior to submission of the credit application. Please note, however, that if a valuation is conducted and you ultimately choose not to proceed with the loan, you may be liable for the valuation fees.
Commissions
We may receive commissions from the lenders and lessors who provide finance for you as our customers. These fees are not payable by you. You may obtain information relating to reasonable estimates of those commissions and how they are calculated.
When we provide you credit assistance, you may obtain from us a reasonable estimate of the commission likely to be received, directly or indirectly by SETTLE PTY LTD and its credit representatives.
Referral Fese
We may pay a referral fee (i.e. commission) for third party referrals. An example of a referrer would be a real estate agent or solicitor. This fee is not payable by you. This fee will be disclosed in the Credit Quote & Proposal Disclosure Document. You may on request obtain a reasonable estimate of the amount of commission and how it is calculated.
SETTLE PTY LTD and your representative may also receive a benefit for referring you to other specialist service providers.
Referral Agent
If you were referred to SETTLE PTY LTD (or an accredited representative) by a referrer, then you need to know that the National Consumer Credit Protection Regulations contain provision for referrers to be exempt from licensing requirements provided that certain criteria pertaining to the collection and provision of consumer details to registered and or licensed persons are met.
A Referral Agent,
  • will only engage in credit activities incidentally to another business they are carrying on.
  • will not charge a fee to the consumer for the referral.
  • will only inform the consumer that they able to arrange loans and leases.
  • will not recommend any particular product, nor provide any advice concerning loans or leases.
  • will inform the consumer of any commissions or other benefits you may receive. SETTLE PTY LTD will also provide this information within our Credit Proposal & Quote.
  • will obtain the consent of the consumer to pass on their name, contact details and a short description of the purpose for which they may want the credit or lease.
  • will pass the consumer’s contact details to us within five business days of informing the consumer that we are able to arrange loans and leases.
  • will agreed to indemnify SETTLE PTY LTD to the maximum extent permitted by law from and against all Liabilities which arise from or are causally connected with any (and all) acts, omissions, defaults, representations or statements whether negligent, reckless, innocent or otherwise, directly or indirectly related to or arising as a consequence of the supply of the Services outlined in this credit guide.